Both the notes and the bonds were highly speculative investments since neither were backed by an actual debt or a valid mortgage.
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There is an untested theory that could have significant impact if it was attempted by experienced securities counsel. The foundation lies in the way that mortgage loans were sold first to consumers as loan products and then traded in the secondary and tertiary markets as “investments.”
The industry parlance has consumers “purchasing” a loan product, which is generally sold as part of an investment plan based upon representations regarding the rising value of real estate. Thus the loan product offers cash or access to property that will rise in value without any action performed…
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